NY Attorney Thomas Lagan Indicted for Alleged Role in $9M Scheme

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The allegations against attorney Lagan have been advanced from a $4 MILLION to a $9 MILLION SCHEME. There is no bottom to the corruption of the judicial system with crooked lawyers found every where.

NY Attorney Thomas Lagan Indicted for Alleged Role in $9M Scheme

The New York Attorney General has indicted a financial advisor and lawyer who allegedly conspired with former Town of Guilderland, N.Y. Judge Richard Sherwood to steal more than $9 million from family trust clients, LongIsland.com writes.

Since at least 2006, advisor Thomas Lagan and Sherwood offered legal and financial planning services — including estate planning — to philanthropists Warren and Pauline Bruggeman and Pauline Bruggeman’s sister, Anne Urban, according to the complaint cited by the web publication.

Lagan and Sherwood allegedly failed to return $2 million from a sub-trust to a revocable trust when Urban died in 2013, as required, and disposed of an irrevocable trust for their own benefit, according to the complaint cited by LongIsland.com.

The pair also conspired to deceive an attorney to move $2 million to a trust as if it were going to charity but instead shared in the proceeds themselves; used $1 million in stolen money to fund a trust to benefit themselves; and in 2015 transferred around $6.3 million in aggregate from the Anne S. Urban Irrevocable Trust to accounts in their own names, the web publication writes.

Lagan, a registered representative since 1989, according to BrokerCheck, faces two counts of grand larceny in the first degree, two counts of criminal possession of stolen property and one count of scheme to defraud, LongIsland.com writes.

Sherwood had already pleaded guilty on June 11 to grand larceny in the second degree and faces up to 10 years in prison, according to the web publication.